Porsche 911 (930) Turbo, called 31 Aug 2026.

A 1982 930 Turbo 3.3 running on Collecting Cars out of Melbourne, Victoria — Guards Red over Crema, 167,712 kilometres indicated, right-hand drive, four-speed, VIN WP0ZZZ93ZCS000396, originally delivered to Malaysia and imported to Australia in November 1994.

Run through the hierarchy against the $300,000 base the answer is about $272,000: minus 23.3 per cent for 167,712 kilometres against the 45,000 this record expects at 1.9 per cent per 10,000, plus 12 for a matching-numbers engine that has nonetheless been out of the car, minus 8 for the turbo and exhaust conversion, plus 5 for a gearbox rebuilt fewer than 1,500 kilometres ago and plus 5 for the documentation.

Read the model's own bear case for why: the $300,000 has exactly one published Australian result underneath it, and that result is $137,000 for a left-hand-drive 1979 coupe at Shannons in November 2020. The $350,000 in general circulation is the midpoint of a Shannons pre-sale estimate from August 2023 whose hammer was never published and whose archive was stripped when Shannons left the business that November. This record has been carrying a value built on an estimate, and this is the first lot in a position to test it.

The 1.9 per cent per 10,000 kilometres is a linear rate and it is calibrated around cars near the 45,000 this record expects. This car is 122,712 kilometres past that. A 930 that has covered 167,712 kilometres is not a collection car with a distance adjustment against it; it is a driver, and driver 930s and collection 930s are two markets in the same way the four-speed and the G50 five-speed are. The linear rate cannot express that and no adjustment in the hierarchy can.

This record states plainly that a single number on this model is really a number for one cell: the G50 five-speed is worth 40 to 60 per cent over the four-speed, documented Australian delivery a further 25 to 35, and a rebuilt engine costs 20 to 30. This car is a four-speed, which is correct for 1982 and takes no penalty but earns no premium. It is a Malaysian-delivered import, which is the base case here rather than a deduction, because between 45 and 60 per cent of the local pool is imported. And its engine is matching-numbers but has been out. Three cells, none of them the good one.

AutoArt took the engine and gearbox out in May 2021 and fitted C/2 camshafts, Fabspeed extractors and an intercooler, replaced every rocker, reset the tappets and timing, and renewed gaskets, washers, oil and filter. In the same year: a new clutch plate with a machined flywheel, a new rear main seal, cam feed hoses, heater hoses, turbo supply hose, distributor wiring, throttle bell-crank bushes, plugs and filters. The gearbox was fully rebuilt with new synchros, shift sleeves, third-gear dog teeth and both differential carrier bearings, with preload and backlash reset. Fewer than 1,500 kilometres since. Against a fault list that prices a 930 four-speed rebuild at $11,000 and a turbocharger and intercooler at $9,000, that is most of the mechanical tail already spent. The documentation is the best in this log: original owner's manuals, Porsche tool kits with a replacement fan belt, crest footwell carpets, a completed Technical Specification Booklet, the original delivery checklist, the service book, and a replacement master key still on its original paper tag.

A K27 turbocharger, a Fabspeed intercooler, a custom exhaust and C/2 camshafts are a deliberate performance build on a car whose market pays for originality. The original KKK turbocharger and intercooler come with it, which is what keeps the deduction at 8 rather than 15: the car can be put back. A buyer who wants a stock 930 can have one; a buyer who wants this one is a smaller pool.

Seventeen bids by four users - not seventeen buyers, four, two of whom are doing the work. $45,000 and $45,250, then $50,000 and $50,500 sixteen to eighteen hours in, then a single step to $90,911 and $91,411 six hours ago. Standing at $91,411 with seven days and one hour left, against 1,449 views and 165 saves, which is the heaviest watch count on any lot in this log. A $40,000 step in one move is a max-bid ladder being walked up to a reserve rather than a market clearing, and the reserve is now behind it. Predicted hammer $125,000 to $165,000, midpoint $145,000. Buyer's premium of six per cent plus GST applies on top, capped at $12,100 including GST, so a $145,000 hammer is about $154,570 to the buyer. Closes on or about 7 September 2026.

The lot stands at $150,000 from 37 bids with days still to run. That is above the $145,000 midpoint and inside the published $125,000 to $165,000 band.

A call that follows the bidding measures nothing, because the entire value of a published prediction is that it was fixed before the room answered; this one will be graded against the hammer exactly as written.

This entry argued that the $300,000 carried value rests on one published Australian result - $137,000 for a left-hand-drive 1979 coupe at Shannons in November 2020 - and that the $350,000 in general circulation is the midpoint of a pre-sale estimate whose hammer was never published and whose archive was stripped. At $150,000 with days left the room is at about half the carried base, and 37 bids is a market rather than the four-user max-bid ladder this thesis read at $91,411. The base moves when this resolves, which is what the closing line of this thesis said it would.

The winning bid is by construction the highest estimate in the room rather than the room's consensus, so a result above a call establishes that the prediction was low and establishes nothing about whether the buyer paid too much. Only a repeat sale answers that, and this library holds three of them.

The seller has since answered three questions in the lot comments that were open when this call was written. No repaints known, against a single 2013 receipt for $1,355 of touch-ups, buff and detail. No dents, no ripples, and no rust reported in the history. And the odometer is now stated as supported by the car's service records. On a forty-three-year-old 930 the shell and the paint are the largest unpriced variable in the car, and worked through they are worth about six per cent, which would put the figure at $154,000.

The call is $145,000 and it stays there.

The lot stands at $170,000 from 43 bids with about ninety minutes left. That is 17 per cent above the $145,000 midpoint and through the top of the published $125,000 to $165,000 band, so unless the room stops here this resolves as a miss called low. It is written down now, not explained afterwards. The thesis above argued that the $300,000 carried value rests on a single published Australian result, $137,000 for a left-hand-drive coupe at Shannons in November 2020, and that the $350,000 in general circulation was a pre-sale estimate nobody could check. The room has now evidenced something well above the 2020 figure, which is the part of the argument that was wrong.